About the Report
The global bioplastic textiles market is projected to expand at a CAGR of around 12% over the 2021 to 2031 assessment period, with Polytrimethylene Terephthalate (PTT) and Polylactic Acid (PLA) being the most sought-after materials in this space.
Bioplastic textiles are materials derived from renewable feedstock such as sugarcane, corn starch, woodchips, straw and other biodegradable sources. An increase in awareness regarding the adverse effects of plastics on the environment coupled with stringent government policies are driving the bioplastic market.
The urgent need to curb CO2 emission by reducing dependency on fossil fuels is expected to bolster the demand over the forecast period (2021-2031). Additionally, technological developments have made bioplastics compatible and user friendly hence making it a potential alternate source for end-use.
Furthermore, market players are investing in the development of cost-efficient manufacturing processes. It helps to addresses the needs of the consumers, reduces the negative impact on the environment and maximize profit in the long run.
The foremost objective of the report by Fact.MR on the bioplastic market is to pitch insights on the market scenario, demand generators, and technological advancements in this space. The report provides a taxonomy elaborating on key segments.
The report also outlines visionary insights on the dynamics of the market, including the drivers, restraints, opportunities, trends and pricing analysis, along with key success factors. Market trends have been tracked in 20+ high-growth countries, pointing towards countries in North America, Europe, and East Asia holding the bulk of the market share.
Historical Trends Vs Future Market Projections
Over the past half-decade sales of bioplastics have risen significantly attributed to the increase in demand for biodegradable materials along with a change in consumer preference. Additionally, various green initiatives being adopted by governments around the world such as the ban on single-use plastics has sent a positive outlook to the manufacturing industries.
Moreover, the bioplastic market is projected to grow at a CAGR of 12% over the forecast period (2021-2031). This can be attributed to the rise in demand for sustainable products coupled with a surge in awareness among end-users regarding the benefits of using bioplastic products.
Owing to these factors, demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts.
- Short-run: Prolonged lockdowns and shutdowns impacted the demand for bioplastics due to disruption in the supply chain which impacted the raw material supply. Moreover, various governments let loose some of the regulations on the plastic ban to contain the spread of the virus.
- Medium run: Recovery is set to be observed as we emerge out of pandemic. Demand is projected to be driven by pharmaceuticals, healthcare and the food & beverage packaging industry.
- Long run: Various green initiatives coupled with favourable government policies is projected to drive the demand for bioplastics over the forecast period.
All in all, the bioplastic textiles industry is to expand at a significant rate of around 12% through 2031, providing a positive outlook to the investors in the market.
Know More Details About the Report
What are the Primary Applications that Generate Demand for Bioplastic Textiles?
Bioplastic textiles find their major application in the packaging industry which includes flexible packaging and rigid packaging. This can be attributed to the shift in consumer preference towards bio-based products and rising awareness regarding the negative impact of synthetic products. For instance, according to European bioplastics around 47% of the global bioplastics were used in the packaging industry.
Moreover, flexible packaging accounted for a majority of the market share owing to the biodegradable nature of bioplastics along with wide adaptability among various end-use industries. For instance, in 2019 around 660 thousand metric ton of bioplastics were produced for flexible packaging globally giving a major boost to the bioplastics textiles industry.
Other than the above bioplastics also finds its application in the automotive, agriculture, construction, electrical & electronics and various other end-use industries.
Which Region Offers Great Potential for Bioplastic Textiles?
The Asia Pacific is expected to emerge as a lucrative market for the growth of bioplastics in the region. This can be attributed to the growing apparel and clothing segment coupled with the rise in awareness regarding green products. Moreover, favourable government policies such as the ban on non-biodegradable and single-use plastics are expected to boost the demand in the region.
China will continue to dominate the bioplastic textile production in the region over the forecast period owing to the presence of some prominent market players along with stringent laws to push for the use of green products.
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Why is Germany a Huge Market for Bioplastic Textiles?
Germany tops the economic ladder in Europe. Additionally, the German textile industry is the largest in the European region attributed to the presence of over 6000 registered companies. Moreover, the growing demand for green products coupled with a change in consumer habits has made Germany a pioneer in the consumption of bioplastics.
Moreover, the presence of key players in the region along with numerous small and medium-sized enterprises entering the market are driving the production of bioplastics, hence creating demand growth.
What Makes China the Growth Epicentre for Bioplastic Textiles?
China accounts for the majority of the market share in the Asia Pacific region attributed to the stringent government policies for a ban on non-biodegradable plastic. Besides, a change in consumer preference for the adoption of bioplastics have bolstered the demand for bioplastics in the region.
Moreover, various food chains are adopting measures to curb the use of conventional plastics by promoting the use of bioplastics in the region. For instance, Yum China recently announced the launching of a series of plastic reduction sustainable packaging initiatives which aims to achieve a 30% per cent reduction in non-biodegradable plastic packaging by 2025.
Which Materials are Expected to Dominate Manufacturing of Bioplastic Textiles?
Polytrimethylene terephthalate (PTT) and polylactic acid (PLA) are seeing a widespread surge in demand for the manufacturing of bioplastics attributed to the enhanced elastic and resistant properties. Additionally, PTT is preferred in industries due to its flexibility and strength. This segment is expected to grow 1.5X by the end of the forecast period.
Moreover, PLA accounted for about one-fourth of the total bioplastic textiles market share. Furthermore, it is expected to grow at a CAGR of 13% over the projected forecast period. Also, PLA is completely degradable under compost conditions paving the way for its acceptance in the industry.
Which Source Dominates Production of Bioplastic Textiles?
Sugarcane holds the major market share for the production of bioplastics attributed to its biodegradable and carbon-negative nature. For instance, in 2018 sugar cane accounted for around 34% of the total volume share in the bioplastics market globally and is expected to increase significantly by the end of the forecast period.
Moreover, the corn starch segment is also growing fast and accounts for one-fourth of the total market share by volume. The corn starch segment is also projected to expand 3X by the end of the forecast period. This can be attributed to the benefits offered by corn starch such as biodegradability, which barely impacts the environment.
How are Rising Investments in Bioplastic Textiles Shaping Demand?
Investments in the R&D segment by big market players coupled with government spending on sustainable manufacturing will drive the demand for the bioplastic textiles market:-
- For instance, Department for Business, Energy and Industrial Strategy (BEIS) in July 2019 announced an investment of US$ 84.5 Mn which is expected to boost the R&D sector for the innovation in the bioplastic segment. It is also further anticipated to generate around US$ 209.9 from businesses.
- Moreover according to Morgan Stanley Institute for Sustainable Investing, approximately 75% of the total investors that polled showed interest in sustainable investing.
The aforementioned developments have set out positive signals to the bioplastic textiles industry and are set to grow significantly over the forecast period.
An Adaptive Approach to Modern-day Research Needs
The aforementioned market players are considered as the prominent players in the bioplastic textiles market. Further, key market players are focusing on gaining access to untapped regions by performing geographic expansions. They are focusing on strategic partnership, innovative product launches and acquisitions in the market space to substantially increase its market presence.
- For instance, in July 2019 Braskem partnered with Atlhetica Nutrition to use its recently launched green plastic product for packaging.
Historical Data Available for
US$ Mn for Value and Tons for volume
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
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Key Market Segments Covered
- Polytrimethylene Terephthalate (PTT)
- Polyamide (PA)
- Polyethylene Terephthalate (PET)
- Polylactic Acid (PLA) or Polylactide
- Corn Starch
- Including Wheat
- Home Textiles
- North America
- Asia Pacific
- Rest of World
Bioplastic Textiles Market - Scope of Report
A recent study by Fact.MR on the bioplastic textiles market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of bioplastic textiles.
The study also provides the dynamics that are responsible for influencing the future status of the bioplastic textiles market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing bioplastic textiles, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of bioplastic textiles across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of bioplastic textiles during the forecast period. Price point comparison by region with global average price is also considered in the study.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (Tons) and value (US$ Mn).
Market estimates at global and regional levels for bioplastic textiles are available in terms of “US$ Mn” for value and in “‘Tons” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global bioplastic textiles market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the bioplastic textiles market during the forecast period.
Country-specific valuation on demand for bioplastic textiles has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of bioplastic textiles, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of bioplastic textiles has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
- FAQ's -
Bioplastic textiles market to register a CAGR close to 12% by volume across the 2021-2031 assessment period. Higher penetration in the packaging industry will bolster demand over the coming years.
China is expected to hold a pivotal role in driving demand for bioplastic textiles. A surge in demand from packaging industries is set to be observed across the country.
Prominent players manufacturing bioplastic textiles include Natureworks LLC, BASF SE, Ercros S.A, Braskem, Bio-on SpA, DuPont de Nemours, NaturePlast, FKuR, Biome Bioplastics, GALATEA BIOTECH and Corbion
Major advancement witnessed is the prominent use of polylactic acid (PLA) in the development of bioplastics as PLA plastics tends to emit 70% fewer greenhouses gases as compared to those emitted by traditional plastics.
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